notification no. 71/2021 f. no. 370142/19/2021 tpl / gsr 395 e income tax 17th amendment rules 2021

[भागII—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 9 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th June, 2021 (INCOME-TAX) G.S.R. 395(E).— In exercise of the powers conferred by sections 194,194A,194Q, 196D, 206AB and 206CCAread with section 295 of the Income-tax Act, 1961, (43 of 1961) the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. Short title and commencement. –– (1) These rules may be called the Income-tax (17th Amendment) Rules, 2021. (2) Save as otherwise provided in these rules, they shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 31A, in sub-rule (4) –– (a) for clause ‘(x)’ the following clause shall be substituted namely: - ‘(x) furnish particulars of amount paid or credited on which tax was not deducted or deducted at lower rate in view of the notification issued under sub-section (5) of section 194A or in view of exemption provided under clause (x) of sub-section (3) of section 194A.’; (b) after clause (xiii), the following clauses shall be inserted namely: - “(xiv) furnish particulars of amount paid or credited on which tax was not deducted in view of clause (d) of the second proviso to section 194 or in view of the notification issued under clause (e) of the second proviso to section 194; (xv) furnish particular of amount paid or credited on which tax was not deducted in view of proviso to sub- section (1A) or in view of sub-section (2) of section 196D.; (xvi) furnish particulars of amount paid or credited on which tax was not deducted in view of sub-section (5) of section 194Q with effect from 1st day of July,2021.”. 3. In the principal rules, in Appendix II, in form 26A, in Annexure A, in clause (ii), the words “, who is a resident,” shall be omitted. 4. In the principal rules, in Appendix II, in form 26Q –– (a) for the brackets, words, figures and letters “[See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194-I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O, 197A and rule 31A]” the following brackets, words, figures and letters, shall be substituted namely: - “[See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194-I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O, 194Q, 197A, 206AA, 206AB and rule 31A]”; (b) for the “Annexure”, the following “Annexure” shall be substituted, namely: - 10 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] BSR Code of branch/Receipt Number of Form No. 24G Date on which challan deposited/Transfer voucher date (dd/mm/yyyy) Challan Serial Number / DDO Serial No. of Form No. 24G Amount as per Challan Total tax to be allocated among deductees/payees as in the vertical total of Col. 421 Total interest to be allocated among the deductees/payees mentioned below Name of the Deductor/Payer TAN “ANNEXURE: DEDUCTEE/PAYEE WISE BREAK UP OF TDS (Please use separate Annexure for each line-item in Table at Sl. No. 4 of main Form 26Q) Details of amount paid/credited during thequarterended… (dd/mm/yyyy) and of tax deducted atsource Sl. No. Deductee /payee reference number provided by the deductor/ payer, if available Deduct ee/ payee code (01- Comp any 02- Other than comp any) PAN of the deductee / payee Name of the deduct ee/ payee Section code (See Note 16) Date of payme nt or credit (dd/m m/ yyyy) Amou nt paid or credite d Amount of cash withdrawal in excess of Rs. 1 crore as referred to in section 194N (in cases not covered by the first proviso to section 194N) Amount of cash withdrawalwhic h is in excess of Rs. 20lakh but does not exceed Rs 1 crore for cases covered by sub-clause (a) of clause (ii) of first proviso to section 194N Amount of cash withdrawal in excess of Rs. 1 crore for cases covered by sub-clause (b) of clause (ii) of first proviso to section 194N Total tax deduct ed Total tax deposit ed Date of deductio n (dd/mm/ yyyy) Rate at which deduct ed Reason for non- deduction / lower deduction/ Higher Deduction/ Threshold/ Transporter etc. (See notes 1 to 15) Number of the certificate under section 197 issued by the Assessing Officer for non- deducti on/ lower deducti on [412] [413] [414] [415] [416] [417] [418] [419] [419A] [419B] [419C] [420] [421] [422] [423] [424] [425] 1 2 3 Total Verification I, ........................................................................... , hereby certify that all the particulars furnished above are correct andcomplete. [भागII—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 11 Place: ………………….. ………………………………………….. Signature of the person responsible for deducting tax at source Date: ………………….. ………….……………………………….. Name and designation of the person responsible for deducting tax at source Notes: 1. Write “A” if “lower deduction” or “no deduction” is on account of a certificate under section197. 2. Write “B” if no deduction is on account of declaration under section197A other than the cases mentioned in sub-section (1F) of section 197A. 3. Write “C” if deduction is on higher rate under section 206AA on account of non-furnishing of PAN. 4. Write “D” if no deduction or lower deduction is on account of payment made to a person or class of person on account of notification issued under sub-section (5) of section 194A. 5. Write “E” if no deduction is on account of payment being made to a person referred to in Board Circular No. 3 of 2002 dated 28th June 20002 or Board Circular No. 11 of 2002 dated 22nd November 2002 or Board Circular No. 18/2017 dated 29th May 2017 6. Write “Y” if no deduction is on account of payment below threshold limit specified in the Income-tax Act,1961. 7. Write “T” if no deduction is on account of deductee/payee being transporter. PAN of deductee/payee is mandatory[section194C(6)]. 8. Write “Z” if no deduction or lower deduction is on account of payment being notified under section197A(1F). 9. Write “M” if no deduction or lower deduction is on account of notification issued under second proviso to section 194N. 10. Write“N” if no deduction or lower deduction is on account of payment made to a person referred to in the third proviso to section194Nor on account of notification issued under fourth proviso to section194N. 11. Write “O” if no deduction is as per the provisions of sub-section (2A) of section 194LBA. 12. Write “P” if no deduction is on account of payment of dividend made to a business trust referred to in clause (d) of second p roviso to section 194 or in view of any notification issued under clause (e) of the second proviso to section 194. 13. Write “Q” if no deduction in view of payment made to an entity referred to in clause (x) of sub-section (3) of section 194A. 14. Write “S” if no deduction is in view of the provisions of sub-section (5) of section 194Q.* 15. Write “U” if the deduction is on higher rate in view of section 206AB for non-filing of return of income*. 16. List of section codes is asunder: